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A 9-Month Term Deposit, Earning Interest at 7%, Was Worth

Question 69

Multiple Choice

A 9-month term deposit, earning interest at 7%, was worth $72,559 when it reached maturity today. How much had been invested at the beginning of the term?


A) $76,368
B) $68,940
C) $72,552
D) $67,480
E) $70,000

Correct Answer:

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